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- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

(CNN) It seems that every few days, a new star announces their foray into the world of non-fungible tokens, cryptocurrency or some other inscrutable corner of the metaverse -- the general term for a nascent virtual space where people can play, meet, and of course, buy things. This has been a habit for a while now, and every starry-eyed announcement usually promises some form of connection or exclusive opportunity. But for the majority of the population who don't own cryptocurrency or NFTs (and may not care to), big names and the pricey tech concepts they promote make for strange bedfellows indeed. Take some recent examples: Last week, Madonna minted an extremely NSFW NFT collection that featured explicit images of her giving birth to a tree, as well as a 3D model of her undercarriage. Charitably, the reactions were mixed. crypto-terms cryptocurrency: a currency that exists virtually and requires complex technology to verify and use NFT: … [Read more...] about The celebrity love affair with NFTs may be just beginning — even amid flops and doubts

Share to Twitter Share to Linkedin If Dad is a backyard barbecue hero, he can never have too much meat and seafood to grill. From the gourmet grilling connoisseur to the lazy cook to the guy who loves grilling but burns everything, here is something perfect for every father who cooks with gas, fire or smoke, at many different price points. Having written extensively on food, grilling and smoking for more than 20 years, I have personally tried, enjoyed and can enthusiastically recommend every single one of these providers. Best All Around: I love Allen Brothers , the venerable Chicago butcher shop - since 1893 and the city’s stockyards days - that supplies many top steakhouses across the nation and has been doing mail order meat for a long time. While justifiably famous for their steaks, from thick T-bones to tomahawks, you cannot beat them for one stop shopping. I’m talking every kind of beef from world-class burger patties to whole tenderloins to bone-in … [Read more...] about Father’s Day Gift Guide: Best Meats And Seafood For Dad’s BBQ Grill

Share to Twitter Share to Linkedin Upon return from a family vacation three summers ago, economist Ike Brannon remarked at a subsequent lunch about an individual at the resort who was almost literally covered in tattoos. This was an expensive resort, and Brannon wondered how he and his family were sharing the same pool. To be clear, Brannon’s wonderment about the inked up vacationer wasn’t of the nose-upturned variety; rather he wanted to know what profession afforded so much individuality and disposable income. It turns out his poolmate was a chef. To younger readers, the mention of chef likely elicits a “so what?” response. For those born in the 1970s or earlier, the response is different. We remember . We remember when chef was a “dead end” job for, yes, people with tattoos. They were referred to as cooks then. It’s a long or short way of saying that the economic thinker in Brannon was celebrating a happy truth about prosperity: it elevates all manner of … [Read more...] about Book Review: Dana Brown’s Entertaining and Insightful Memoir of Vanity Fair, ‘Dilettante.’